Natural Gas and Oil Forecast: Bearish Bias Deepens Amid OPEC+ Output Growth Concerns

Market Overview

WTI crude oil slid to $59.29 per barrel, reversing early gains as renewed geopolitical tensions and rising global production weighed on sentiment. Traders balanced concerns over potential supply disruptions against easing risk premiums in key producing regions.

Meanwhile, increasing output from OPEC+ and non-OPEC producers fueled worries of a growing surplus. In natural gas markets, prices hovered near $3.07, supported by short-term demand resilience but capped by mild weather forecasts.

Overall, energy markets remain volatile as geopolitical uncertainty and shifting trade expectations continue to drive fluctuations in oil and gas prices.

Natural Gas Price Forecast

Natural Gas is trading around $3.07, holding just above key support at $3.06 after a sharp decline. The price remains under the 50-day EMA at $3.25 and 200-day EMA at $3.30, keeping short-term sentiment bearish.

The RSI near 32 signals oversold conditions, suggesting potential for a short-term bounce if support holds. A break above $3.19 could trigger a recovery toward $3.30, where the 200 EMA aligns with horizontal resistance.

However, failure to stay above $3.06 may push prices lower toward $2.98 and $2.90. The broader setup hints at consolidation within a descending channel, with bulls needing a sustained move above $3.20 to regain control.

WTI Oil Price Forecast

WTI Crude Oil is trading around $59.29, struggling to recover after falling from resistance near $61.90. The price remains below both the 50-day EMA at $61.12 and the 200-day EMA at $62.69, showing persistent bearish control. Fibonacci retracement levels highlight $60.00 as key resistance, while support is seen at $58.20.

A break below this level could open the path toward $57.40. The RSI near 37 indicates weak momentum, suggesting buyers are hesitant.

If price holds above $59.30, a short-term bounce toward $60.50 remains possible, but the broader outlook stays cautious until oil closes decisively above $61.10, confirming a shift in momentum.

Brent Oil Price Forecast

Brent Crude Oil is trading near $63.07, struggling to sustain momentum after rejecting resistance close to $65.50. The price remains below both the 50-day EMA at $64.90 and 200-day EMA at $66.38, confirming the prevailing bearish structure.

Fibonacci retracement levels indicate key resistance at $64.20, with support near $62.00. A close below $62.00 could expose further downside toward $60.90. The RSI at 36 suggests weak buying pressure, showing that sellers still dominate the market.

However, if Brent holds above $63.00, a short-term corrective bounce toward $64.20 is possible before renewed selling pressure resumes. The broader trend stays bearish unless price reclaims the $66.00 zone with strong volume.